Section 3 of transfer of property act

Transfer of Property Act – TPA: Introduction and Important. Is transfer of property immovable? Can a transfer of property be made? Interpretation clause. As the Act itself does not deal with testamentary transfers (wills etc.), the term ‘instrument’ does not cover testamentary instruments.

It is not only an evidence of the transfer of property mentioned in it but it signifies the transfer of property as such. In this Act, unless there is something repugnant in the subject or context ,-. PRELIMINARY CHAPTER II. Every person, who is competent to contract , is competent to transfer property, which can be transferred in whole or in part.

He should be entitled to the transferable property, or authorized to dispose of transferable property which is not his own. Persons competent to transfer. What maybe transferred.

See full list on advocatekhoj. By its very existence, society mandates interaction, exchange or transfer. A property , movable or immovable, is transferred from one person to another under various different situations and circumstances and for different values. The transfer may be a gift, an inheritance or an asset acquired by paying full value.

In case, the property is transferred from a dead person to a living person(s), the law applied will be the Law of succession. Should a person die without leaving a will (intestate), the law of intestate succession is applicable and in cases where a person dies leaving a will, the law of testamentary succession is applicable. The difference between a sale and an exchange is that in a sale the price is paid in money while in an exchange it is paid in another property by way of barter.

The sale is always for a price, which means money or the current coin of the realm while no price is paid in an exchange, there is only a transfer of one specific property for another. And although payment of price may be made in addition to the transfer of property , by way of equality of exchange, such payment does not make the exchange lose its character as such. Please Subscribe for more updates. It lays down the statutory definitions of seven terms which have been frequently used in the act. A right to future maintenance, in whatsoever manner arising, secured or determine cannot be transferred.

A public office cannot be transferre nor can the salary of a public officer, whether before or after it has become payable. DEFINITION OF IMMOVABLE PROPERTY Immovable property is a species of property. Whenever we speak about immovable property, we always use the ready reference of ‘attached to the earth’.

Before that, the transfer of immovable property was governed by principles of English law and equity. The preamble of Act sets out the objectives of the legislation. Scope of this Act is limited. It applies only to transfer by the act of parties and not by operation of law.

Section Para merely says: “Immovable property does not include standing timber, growing crops or grass”. This is a negative definition and is not satisfactory. Land may be transferred in freehold only by an instrument expressed to transfer the lan but it is not necessary to use the word grant or any other term of art.

A transfer of land may pass the possession or right to possession without actual entry. This section is subject to the Land Title Act. The powers conferred in sections one (1) and two (2) of this Act shall also be taken to authorize the transfer of two or more parcels of real estate at the same time and in the same proceeding in the manner provided in this Act.

Short title and commencement 3. Application of other laws etc. Land granted by Crown to be subject to this Act 9. Registrar of Titles 6. Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now!